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CBN has announced a $1 billion monthly diaspora remittance target for the Nigerian forex marketCardoso revealed that monthly inflows from Nigerians abroad already exceed $600 million following policy reforms that doubled remittances within a yearNigeria’s net external reserves climbed from roughly $3 billion at the start of the reform programme to over $40 billion
Central Bank of Nigeria (CBN) Governor Yemi Cardoso has projected that diaspora remittances will reach $1 billion every month before the end of 2026, as the apex bank pursues reforms aimed at deepening foreign exchange inflows and reducing the economy’s dependence on oil revenue.
Cardoso made the projection on Thursday, July 16 while speaking at the 14th Annual BusinessDay CEO Forum in Lagos, which held under the theme ‘From Stability to Shared Prosperity’.
Yemi Cardoso says exchange rate unification has reduced market distortions Photo: CBNSource: Twitter
He said:
“We are expecting that by the end of the year, we will hit
